Would you rather be rich or famous?

Published by Ryan Healy on December 11th, 2007 in Career Development, Entrepreneurship | 13 Comments

Personal branding is a hot topic amongst Millennials these days. Dan Schawbel has personally branded himself as the personal branding expert among young people. Adam Salamon also regularly discusses the topic on his site, Creating Your Name Brand. We're all trying to mold our personal brand, and we're pretty darn good at it.

This makes total sense of course. We live our lives online. We have Facebook, Myspace, blogs and Twitter. We share our lives with the world, and because of this we are always conscious of our surroundings.

According to Clive Thompson of Wired Magazine, all of these online communities and conscious personal branders are creating "microcelebrities." Thompson describes a microcelebrity as, "The phenomenon of being extremely well known not to millions but to a small group — a thousand people, or maybe only a few dozen."

It's a really interesting observation, and it hits especially close to home for me right now. Since starting Employee Evolution in March, our audience has grown dramatically. Everything I write is seen by thousands of people. From full posts to comments, I am totally conscious of everything I say online these days.

I manage my "microcelebrity" status by reading and re-reading everything I write. Then I ask myself, "Does this make me sound arrogant?" Or "How will people interpret this sentence?" As fun as having a large audience is, it certainly makes blogging more difficult. Posts take much longer to write, and I try hard not to make the same "sweeping generalizations" that I was so often accused of making in the past. Without consciously doing so, I am creating, managing, and marketing my personal brand every day.

On the flip side, an old college friend of mine has a successful company. He has been approached by multiple media outlets like Entrepreneur Magazine and Young Money, to do exclusive interviews. But he has turned down every opportunity. I asked him why one day. He turned the question around on me and asked,

"Would you rather be rich or famous?"

"I'd rather be rich." I replied.

He then proceeded to explain that media attention was not part of their model. He felt the fame that could come from the media appearances could actually keep them from eventually selling for a lot of money.

By doing this, he has taken the road less traveled amongst Millennials. It's not about his brand, it's about his company. And since starting a company I've come to realize that as difficult as it is to establish a personal brand, it's a heck of a lot more difficult to run a successful company. On top of that, running a successful company takes a completely different skill set then developing a personal brand.

So all of this leads me to ask the question, are we destined to be a generation of personal hype machines with little substance, or will we be able to leverage our personal branding prowess to help build and sustain successful companies?

Only time will tell, but I think we'll figure it out. At least I hope so.

Leave your thoughts here. (13 responses)

This article´s comments All Employee Evolution comments

Brad

Dec 11th, 2007 at 9:01 am

The problem with microcelebrity is that it can happen just because someone is the only one talking and writing about a certain issue not because they're an authority on it or they're good at it.

Personally I think a lot more people need to quit the hyping and tossing around jargon and be more like your friend.

Norcross

Dec 11th, 2007 at 9:06 am

I agree with Brad. Excelling in my current job has made my brand, not the other way around. Now that I have some legitimate experience, my words carry weight. I focused on learning all that I could about my profession (and still learning), and then the brand created itself. I'm now the "finance guy" with all my friends, and most of my family.

Rachel R.

Dec 11th, 2007 at 10:06 am

"He felt the fame that could come from the media appearances could actually keep them from eventually selling for a lot of money."

Could you/he explain the reasoning behind this? I'm curious.

Nathan

Dec 11th, 2007 at 10:30 am

I don't think there is any question, I'd rather be rich. I don't think I'd purposefully avoid spotlight, I'm more or less indifferent, but there is no question that I would rather be rich. I can't help but laugh at reality tv stars who legitimately get by from gig to gig, but are as popular and as recognized as any other celebrity. Just seems like a miserable life. For every one of the washed up celebs like that, there's a successful individual that guaranteeing his kids wont have to worry when social security runs dry in 2040. It's an easy decision for me.

Ryan Healy

Dec 11th, 2007 at 10:34 am

I think it goes both ways. It is possible to become a microcelebrity with substance, but it's a lot easier to deem yourself an expert just because. Also, legitimate experience certainly goes a long way in creating a solid "brand you," but then you have to ask yourself, "What does legitimate mean?" Legitimate these days does not need to be 5 or 10 years in a traditional office role.

Rachel – Sorry, if I explained the reasoning, I would be giving away too much. But there are some companies/business models where media can get in the way, especially if it's at an early stage. As far as I can tell, his reasoning is totally right.

-Ryan

Nathan

Dec 11th, 2007 at 1:24 pm

Legitimate these days does not need to be 5 or 10 years in a traditional office role.

No, it doesn't. But let's be fair, 99% of bloggers are not experts in their field either, but as Brad implied they're just speaking the loudest. No offense, but when 60 Minutes does a story or you (plural you for all in similar situations, not just specifically Ryan H.) are quoted in an article as a "Gen Y employee expert" or what have you, I have to laugh. As we move to a more integrated society, "has an opinion" has slowly begun to be misunderstood as "expert" which is obviously not the case.

That said, I would change the way information is being presented right now, they just shouldn't be quoted as experts.

Nathan

Dec 11th, 2007 at 1:25 pm

*Edit: that should say "I would not change the way" ie, I enjoy blogs.

Tiffany Monhollon

Dec 11th, 2007 at 2:08 pm

The issue of what exactly expertise is an interesting one, especially in the era of self-publishing. Is it about learning things from personal experience yourself, or is it about doing secondary research and being someone who presents it in a useful way, is it about smoke and mirrors, is it about primary research and studies? The definition seems to depend on the audience, really, but is that okay?

Anyway, I could wax on about that forever, but I am very much in tune with the idea that there has to be substance, thought, and content primary to a great "brand." But I worry sometimes that is getting lost and people are spending so much time becoming a known entity that they forget to be becoming a useful, knowledgeable one too.

Michael Holley Smith

Dec 11th, 2007 at 4:16 pm

I faced this issue with the publication of my first book, The Resume Writer's Handbook, way back in the 80s. I avoided anything that focused on me and my personal side because I wanted the book to be the subject matter. When my Bioblogs: Resumes for the 21st Century was published last year, I chose again to stay behind the curtain because the art form of bioblogs is more important than the ten years it took me to come up with the idea. Still, a price is paid for this self-imposed anonymity in this personality-cult driven culture we live in, as people almost think of it as a right to know the personal details of any life even minimally cast into the pale light of media attention, be it ever so fleeting and superficial. The trickle down effect of Paris Hilton et al is that people insist on probing into the machine to find the human, but mostly to discover the faults, not the admirable qualities. The big problem with "personal branding" (which is a bit of a scam) is that it attempts to emulate this "look at me" business and to make it not only fashionable, but authentic, though those of us who are not Millenials remember when a person did not have to qualify his or her every thought or action with "my favorite this & that."

Greg

Dec 11th, 2007 at 4:26 pm

I agree with Norcross here. I have to say that I do toot my own horn but also my work speaks for itself. Anyone that has even done business with me, on the job or personally, have helped to build my brand. Advertising, social media and press is just an extension of your brand. I feel that it is necessary for me and my personal goals to let everyone know of my endeavors, but it is not for everyone as Ryan noted. Celebrity isn't for everyone, but hey someone has to take the spotlight.

GwhizHR

Dec 11th, 2007 at 4:32 pm

"Internet, blogger, gen y" brands are just like any of the traditional brands introduced to the public. You see the hype. If moved, you buy the product either by investing your cash or your time, and you decide for yourself if the brand lives up to the hype, if it has substance, if it lives up to your expectations, if it provides value.

Tested brands that survive the vetting thrive and become timeless. Pet rocks put a few quick bucks in a hypesters pocket and then move to the dust bin.

I bought the Employee Evolution/Ryans brand by investing my time after seeing hype on 60 minutes. I'll be throwing a few more minutes away hoping the EE/Ryans brand starts to live up to the hype but at this point it looks like there needs to be a little more room in the dust bin.

Dan Schawbel

Dec 11th, 2007 at 10:40 pm

This poses for a good discussion. The same marketing tactics used for corporate brands can be applied to a person.

If press coverage doesn't align with a companies interests, then they should stay clear of it.

As your personal brand grows, so does the value of your company, especially if your in consulting.

Just my 3 cents!

Prayer

Nov 16th, 2009 at 6:03 pm

It is so true that building relations in your business is the first thing you need to establish to see success. Some people do that by sharing things for free, some do that by creating highly unique content and some do that by getting personal. I am trying to combine all three and in the long term I?m sure this will work.

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